COMPANY REGISTRATION NUMBER: 1540970 CHARITY REGISTRATION NUMBER: 511374
Beauland Limited Company Limited by Guarantee Financial Statements
5 April 2024
HAFFNER HOFF LTD
Accountants 2nd Floor - Parkgates Bury New Road Prestwich Manchester M25 0TL
Beauland Limited
Company Limited by Guarantee
Financial Statements
Year ended 5 April 2024
| Pages | |
|---|---|
| Trustees' annual report (incorporating the director's report) | 1 to 4 |
| Independent auditor's report to the trustees | 5 to 10 |
| Statement of financial activities (including income and | |
| expenditure account) | 11 |
| Statement of financial position | 12 |
| Statement of cash flows | 13 |
| Notes to the financial statements | 14 to 23 |
Beauland Limited
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report)
Year ended 5 April 2024
The trustees, who are also the directors for the purposes of company law, present their report and the financial statements of the charity for the year ended 5 April 2024.
Reference and administrative details
| Registered charity name | Beauland Limited |
|---|---|
| Charity registration number | 511374 |
| Company registration number | 1540970 |
| Principal office and registered | 309 Bury New Road |
| office | Salford |
| Manchester | |
| M7 2YN | |
| The trustees | M Neumann |
| H Neumann | |
| H Roseman | |
| J Bleier | |
| R de Lange | |
| P Neumann | |
| E Neumann | |
| E Henry | |
| Auditor | Haffner Hoff Ltd |
| Accountants & statutory auditor | |
| 2nd Floor - Parkgates | |
| Bury New Road | |
| Prestwich | |
| Manchester | |
| M25 0TL | |
| Bankers | Santander UK Plc |
| BBAM | |
| Bridle Road | |
| Bootle | |
| Merseyside | |
| L30 4GB |
- 1 -
Beauland Limited
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 5 April 2024
Structure, governance and management
There is no chief executive officer. The day to day affairs are undertaken by Mr M Neumann on behalf of the trustees. All major decisions are taken collectively by the trustees and all the trustees give of their time freely. The trustees are unpaid and details of any related party transactions are disclosed as applicable in the notes to the accounts.
Beauland Limited is constituted by Memorandum and Articles of Association and is a company limited by guarantee. It was incorporated on 23 January 1981 as a company and the company number is 1540970. It was registered as a charity on 18 May 1981 with a charity number 511374.
The Charity is run by the trustees who all act in an honorary capacity. A new trustee would receive copies of the previous years' Annual Report and Accounts and a copy of the Charity Commission leaflet 'The Essential Trustee : What you need to know'.
Group structure and relationships
The charity has the following wholly owned non-charitable subsidiaries;
Alcombe Limited (Company number 01549298) Citeglen Properties Limited (Company number 00702369) Edlo Investments Limited (Company number 00709975)
The subsidiaries are property trading and investment companies incorporated in England and Wales.
Risk Management
The trustees have identified and reviewed the major risks to which the charity is exposed. Both manual and automated checks are regularly invoked, particularly those relating to the operations and finance of the charity. The trustees are satisfied that these systems and procedures mitigate any perceived risks.
Objectives and activities
The charity's objects are;
a) To foster, assist and promote the charitable activities of any institutions professing and teaching the principles of traditional Judaism. b) To advance religion in accordance with the Orthodox Jewish Faith. c) To give aid to and support needy persons in general.
Public Benefit Policy
We have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing our aims and objectives and in planning our future activities.
Grant-Making Policy
The Charity receives many applications for grants, both by mail and verbally. Each application is considered against the criteria established by the Charity is well known within its community and there are many requests for grants. Feedback received is used to monitor the quality of grants. Grants over £10,000 are detailed in the notes to the accounts.
- 2 -
Beauland Limited
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 5 April 2024
Achievements and performance
The Statement Of Financial Activities (SOFA) shows that the charity received total income of £974,998 (2023:£1,361,446). The charity spent £543,214 on direct charitable expenditure (2023:£900,458) and £167,964 on investment management costs (2023:£136,735), leaving net income of £263,820 (2023:£324,253).
There were no material fundraising costs during the year.
Financial review
As at 5 April 2024 the charity held unrestricted free reserves of £131,195 (2023:£319,684).
The trustees exercised the exemption for preparing group accounts due to the group turnover falling below the threshold for consolidation. Even though the accounts for 22/23 were consolidated the figures inserted into the 23/24 accounts were amended to non-consolidated figures in order to achieve comparability.
Reserves Policy
The free reserves at the year end were £131,195 (2023:£319,684). It is the policy of the charity to hold reserves sufficient to maintain regular grants at previous years levels. As the charity is presently largely reliant on donations received from trading companies where profits levels are variable, the trustees feel it would be prudent to maintain reserves at such a level that would enable the charity to generate its own income to meet this aim. The return on investments amounted to 4.3% and does not include potential future gains on the sale of those properties.
Investment Policy
The policy of the charity is to make charitable distributions at a level that ensures a sufficient capital base to generate future income and thereby enable the charity to continue making substantial distributions.
The trustees are satisfied that property investment is the optimum method of raising funds in the current market, and this has been well borne out over time, with a highly satisfactory return on investments. During the year the charity's investments produced a return of over 4.3%, this is similar to rates on bank deposits. However, again, this policy is always open to review, should there be a change in market conditions. The trustees expertise is in property investment, and whilst concentrating on this, they at all times strictly adhere to a policy minimising risks.
Plans for future periods
The charity has adequate resources to continue distributing funds to other charities in accordance with its objects. The trustees plan to continue raising funds for projects in line with the Trust Deed and to pursue those objectives and projects with all the resources available to the charity.
Trustees' responsibilities statement
The trustees, who are also directors for the purposes of company law, are responsible for preparing the trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
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Beauland Limited
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 5 April 2024
Company law requires the charity trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charitable company and the incoming resources and application of resources, including the income and expenditure, for that period.
In preparing these financial statements, the trustees are required to:
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles in the applicable Charities SORP;
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make judgments and accounting estimates that are reasonable and prudent;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Auditor
Each of the persons who is a trustee at the date of approval of this report confirms that:
-
so far as they are aware, there is no relevant audit information of which the charity's auditor is unaware; and
-
they have taken all steps that they ought to have taken as a trustee to make themselves aware of any relevant audit information and to establish that the charity's auditor is aware of that information.
-
The trustees' annual report was approved on 27 January 2025 and signed on behalf of the board of trustees by:
M Neumann Trustee
- 4 -
Beauland Limited
Company Limited by Guarantee
Independent Auditor's Report to the Trustees
Year ended 5 April 2024
Opinion
We have audited the financial statements of Beauland Limited (the 'charity') for the year ended 5 April 2024 which comprise the statement of financial activities (including income and expenditure account), statement of financial position, statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
-
give a true and fair view of the state of the charity's affairs as at 5 April 2024 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;
-
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice;
-
have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
- 5 -
Beauland Limited
Company Limited by Guarantee
Independent Auditor's Report to the Trustees (continued)
Year ended 5 April 2024
Other information
The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
-
the information given in the trustees' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
-
the trustees' report has been prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees' report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
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adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
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the financial statements are not in agreement with the accounting records and returns; or
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certain disclosures of trustees' remuneration specified by law are not made; or
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we have not received all the information and explanations we require for our audit; or
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the trustees were not entitled to take advantage of the small companies' exemptions from the requirement to prepare a strategic report.
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Beauland Limited
Company Limited by Guarantee
Independent Auditor's Report to the Trustees (continued)
Year ended 5 April 2024
Responsibilities of trustees
As explained more fully in the trustees' responsibilities statement, the trustees (who are also the directors for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.
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Beauland Limited
Company Limited by Guarantee
Independent Auditor's Report to the Trustees (continued)
Year ended 5 April 2024
Auditor's responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
We identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and then design and perform audit procedures responsive to those risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion.
In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, we considered the following:
the nature of the industry and sector, control environment and business performance;
results of our enquiries of management about their own identification and assessment of the risks of irregularities;
any matters we identified having obtained and reviewed the company's documentation of their policies and procedures relating to (a) identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of noncompliance; (b) detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud; (c) the internal controls established to mitigate risks of fraud or non-compliance with laws and regulations; (d) the matters identified as to how and where fraud might occur in the financial statements and any potential indicators of fraud.
In common with all audits under ISAS (UK), we are also required to perform specific procedures to respond to the risk of management override.
We also obtained an understanding of the legal and regulatory frameworks that the company operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included the UK Companies Act, UK Corporate Governance Code, UK tax legislation and UK Charity Act.
In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental to the company's ability to operate or to avoid a material penalty.
As a result of performing the above, we identified no key audit matters relating to the potential risk of fraud.
Our procedures to respond to risks identified included the following:
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Beauland Limited
Company Limited by Guarantee
Independent Auditor's Report to the Trustees (continued)
Year ended 5 April 2024
reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements;
enquiring of management concerning actual and potential litigation and claims;
performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud;
obtaining an understanding of provisions and holding discussions with management to understand the basis of recognition or non-recognition of tax provisions; and
in addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments; assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.
We remained alert to any indications of fraud or noncompliance with laws and regulations throughout the audit.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.
As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also:
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Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
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Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the internal control.
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Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the trustees.
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Conclude on the appropriateness of the trustees' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the charity's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the charity to cease to continue as a going concern.
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Beauland Limited
Company Limited by Guarantee
Independent Auditor's Report to the Trustees (continued)
Year ended 5 April 2024
- Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.
We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.
Use of our report
This report is made solely to the charity's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charity's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's members as a body, for our audit work, for this report, or for the opinions we have formed.
Howard Schwalbe ACA (Senior Statutory Auditor)
For and on behalf of Haffner Hoff Ltd Accountants & statutory auditor 2nd Floor - Parkgates Bury New Road Prestwich Manchester M25 0TL
27 January 2025
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Beauland Limited
Company Limited by Guarantee
Statement of Financial Activities (including income and expenditure account)
Year ended 5 April 2024
| 2024 | 2024 | 2023 | ||
|---|---|---|---|---|
| Unrestricted | ||||
| funds | Total funds | Total funds | ||
| Note | £ | £ | £ | |
| Income and endowments | ||||
| Donations and legacies | 5 | 238,614 | 238,614 | 474,664 |
| Investment income | 6 | (736,384) | (736,384) | (886,782) |
| -------------------------------- | -------------------------------- | ----------------------------------------- | ||
| Total income | 974,998 | 974,998 | 1,361,446 | |
| ================================ | ================================ | ========================================= | ||
| Expenditure | ||||
| Expenditure on raising funds: | ||||
| Investment management costs | 7 | 167,964 | 167,964 | 136,735 |
| Expenditure on charitable activities | 8,9 | 543,214 | 543,214 | 900,458 |
| -------------------------------- | -------------------------------- | ----------------------------------------- | ||
| Total expenditure | 711,178 | 711,178 | 1,037,193 | |
| ================================ | ================================ | ========================================= | ||
| -------------------------------- | -------------------------------- | ----------------------------------------- | ||
| Net income and net movement in funds | 263,820 | 263,820 | 324,253 | |
| ================================ | ================================ | ========================================= | ||
| Reconciliation of funds | ||||
| Total funds brought forward | 15,342,846 | 15,342,846 | 15,018,593 | |
| ---------------------------------------------- | ---------------------------------------------- | ---------------------------------------------- | ||
| Total funds carried forward | 15,606,666 | 15,606,666 | 15,342,846 | |
| ============================================== | ============================================== | ============================================== |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 14 to 23 form part of these financial statements.
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Beauland Limited
Company Limited by Guarantee
Statement of Financial Position
5 April 2024
| 2024 | 2023 | ||
|---|---|---|---|
| Note | £ | £ | |
| Fixed assets | |||
| Investments | 15 | 16,599,221 | 16,221,912 |
| Current assets | |||
| Debtors | 17 | 349,232 | 429,241 |
| Cash at bank and in hand | 32,698 | 140,040 | |
| -------------------------------- | -------------------------------- | ||
| 381,930 | 569,281 | ||
| Creditors: amounts falling due within one year | 18 | 250,735 | 249,597 |
| -------------------------------- | -------------------------------- | ||
| Net current assets | 131,195 | 319,684 | |
| ---------------------------------------------- | ---------------------------------------------- | ||
| Total assets less current liabilities | 16,730,416 | 16,541,596 | |
| Creditors: amounts falling due after more than one year | 19 | (1,123,750) | (1,198,750) |
| ---------------------------------------------- | ---------------------------------------------- | ||
| Net assets | 15,606,666 | 15,342,846 | |
| ============================================== | ============================================== | ||
| Funds of the charity | |||
| Unrestricted funds: | |||
| Revaluation reserve | 5,991,949 | 5,991,949 | |
| Other unrestricted income funds | 9,614,717 | 9,350,897 | |
| ---------------------------------------------- | ---------------------------------------------- | ||
| Total unrestricted funds | 15,606,666 | 15,342,846 | |
| ---------------------------------------------- | ---------------------------------------------- | ||
| Total charity funds | 20 | 15,606,666 ============================================== |
15,342,846 ============================================== |
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
These financial statements were approved by the board of trustees and authorised for issue on 27 January 2025, and are signed on behalf of the board by:
M Neumann Trustee
The notes on pages 14 to 23 form part of these financial statements.
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Beauland Limited
Company Limited by Guarantee
Statement of Cash Flows
Year ended 5 April 2024
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Cash flows from operating activities | ||
| Net income | 263,820 | 324,253 |
| Adjustments for: | ||
| Dividends, interest and rents from investments | (713,724) | (874,500) |
| Other interest receivable and similar income | (22,660) | (12,282) |
| Accrued income | (300) | (6,604) |
| Changes in: | ||
| Trade and other debtors | 80,009 | (256,959) |
| Trade and other creditors | – | (33) |
| -------------------------------- | -------------------------------- | |
| Cash generated from operations | (392,855) | (826,125) |
| Interest paid | 10,069 | – |
| Interest received | 22,660 | 12,282 |
| -------------------------------- | -------------------------------- | |
| Net cash used in operating activities | (360,126) | (813,843) |
| ================================ | ================================ | |
| Cash flows from investing activities | ||
| Dividends, interest and rents from investments | 713,724 | 874,500 |
| Purchases of other investments | (716,793) | (538,438) |
| Proceeds from sale of other investments | 339,484 | 463,198 |
| Non-Consolidation adjustment | (135,413) | |
| -------------------------------- | -------------------------------- | |
| Net cash from investing activities | 336,415 | 663,847 |
| ================================ | ================================ | |
| Cash flows from financing activities | ||
| Proceeds from borrowings | (83,630) | (66,374) |
| Proceeds from loans from group undertakings | (1) | 85,724 |
| -------------------------------- | -------------------------------- | |
| Net cash (used in)/from financing activities | (83,631) | 19,350 |
| ================================ | ================================ | |
| Net (decrease)/increase in cash and cash equivalents | (107,342) | (130,646) |
| Cash and cash equivalents at beginning of year | 140,040 | 270,686 |
| -------------------------------- | -------------------------------- | |
| Cash and cash equivalents at end of year | 32,698 | 140,040 |
| ================================ | ================================ |
The notes on pages 14 to 23 form part of these financial statements.
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Beauland Limited
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 5 April 2024
1. General information
The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is 309 Bury New Road, Salford, Manchester, M7 2YN.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) and the Companies Act 2006.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
There are no material uncertainties about the charity's ability to continue.
Consolidation
The entity has taken advantage of the option not to prepare consolidated financial statements contained in Section 399 of the Companies Act 2006 on the basis that the entity and its subsidiary undertakings comprise a small group.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements did not require management to make judgements, estimates or assumptions that affect the amounts reported at the year end with the exception of property investment valuation.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.
Incoming resources
All income is included in the statement of financial activities when entitlement has passed to the charity, it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
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Beauland Limited
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 5 April 2024
3. Accounting policies (continued)
Incoming resources (continued)
- income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:
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expenditure on raising funds includes the costs of all fundraising activities, events, noncharitable trading activities, and the sale of donated goods.
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expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
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other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
Investments
Unlisted equity investments are initially recorded at cost, and subsequently measured at fair value. If fair value cannot be reliably measured, assets are measured at cost less impairment.
Listed investments are measured at fair value with changes in fair value being recognised in income or expenditure.
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Beauland Limited
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 5 April 2024
3. Accounting policies (continued)
Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure.
Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
Investments in joint property syndicates
This represents capital introduced by the company into the syndicates plus accrued surpluses less deficiencies but without revaluing the syndicate properties.
Some of the syndicates in which the company is a participator have borrowings which are secured on the syndicate properties.
The company accounts for its syndicate investments under the 'equity accounting' basis and thus the company's share of such borrowings are not included in these accounts.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.
4. Limited by guarantee
The company is limited by guarantee, in case of winding up the liability of the members is limited to a nominal amount.
5. Donations and legacies
| Unrestricted | Total Funds | Total Funds | Unrestricted | Total Funds | |
|---|---|---|---|---|---|
| Funds | 2024 | Funds | 2023 | ||
| £ | £ | £ | £ | ||
| Donations | |||||
| Donations | 238,614 | 238,614 | 474,664 | 474,664 | |
| ================================ | ================================ | ================================ | ================================ |
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Beauland Limited
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 5 April 2024
6. Investment income
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
|---|---|---|---|---|
| Funds | 2024 | Funds | 2023 | |
| £ | £ | £ | £ | |
| Syndicate surplus | 376,793 | 376,793 | 538,438 | 538,438 |
| Rent | 336,931 | 336,931 | 336,062 | 336,062 |
| Bank interest receivable | 22,660 | 22,660 | 12,282 | 12,282 |
| -------------------------------- | -------------------------------- | -------------------------------- | -------------------------------- | |
| 736,384 | 736,384 | 886,782 | 886,782 | |
| ================================ | ================================ | ================================ | ================================ |
7. Investment management costs
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
|---|---|---|---|---|
| Funds | 2024 | Funds | 2023 | |
| £ | £ | £ | £ | |
| Finance costs | 6,366 | 6,366 | – | – |
| Agents commission | 5,898 | 5,898 | 5,870 | 5,870 |
| Insurance | 61,933 | 61,933 | 63,888 | 63,888 |
| Professional charges | – | – | 1,680 | 1,680 |
| Bank loan interest | 93,767 | 93,767 | 65,297 | 65,297 |
| -------------------------------- | -------------------------------- | -------------------------------- | -------------------------------- | |
| 167,964 | 167,964 | 136,735 | 136,735 | |
| ================================ | ================================ | ================================ | ================================ |
8. Expenditure on charitable activities by fund type
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
|---|---|---|---|---|
| Funds | 2024 | Funds | 2023 | |
| £ | £ | £ | £ | |
| Charitable activities | 529,160 | 529,160 | 889,350 | 889,350 |
| Support costs | 14,054 | 14,054 | 11,108 | 11,108 |
| -------------------------------- | -------------------------------- | -------------------------------- | -------------------------------- | |
| 543,214 | 543,214 | 900,458 | 900,458 | |
| ================================ | ================================ | ================================ | ================================ |
9. Expenditure on charitable activities by activity type
| Grant funding | Support | Total funds | Total fund | |
|---|---|---|---|---|
| of activities | costs | 2024 | 2023 | |
| £ | £ | £ | £ | |
| Charitable activities | 529,160 | 1,154 | 530,314 | 890,527 |
| Governance costs | – | 12,900 | 12,900 | 9,931 |
| -------------------------------- | ---------------------------- | -------------------------------- | -------------------------------- | |
| 529,160 | 14,054 | 543,214 | 900,458 | |
| ================================ | ============================ | ================================ | ================================ |
- 17 -
Beauland Limited
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 5 April 2024
10. Analysis of support costs
| Analysis of | ||||
|---|---|---|---|---|
| support costs | Total 2024 | Total 2023 | ||
| £ | £ | £ | ||
| General office | 1,153 | 1,153 | 1,176 | |
| Governance costs | 12,900 | 12,900 | 9,932 | |
| ---------------------------- | ---------------------------- | ---------------------------- | ||
| 14,053 | 14,053 | 11,108 | ||
| ============================ | ============================ | ============================ | ||
| 11. | Analysis of grants | |||
| 2024 | 2023 | |||
| £ | £ | |||
| Grants to institutions | ||||
| Aim Habonim | 2,000 | 15,000 | ||
| Asser Bishvil Foundation | – | 30,000 | ||
| Asos Chesed | 20,550 | 23,350 | ||
| Baderech Kovoid | 21,200 | 10,000 | ||
| Beis Aharon Trust | – | 25,000 | ||
| BCGCT | 11,000 | – | ||
| CMZ | – | 25,000 | ||
| Daas Kedoshim Foundation | 12,000 | 10,000 | ||
| Delman | 40,000 | 35,000 | ||
| Format | 14,000 | 15,500 | ||
| Geffen | 40,000 | 36,200 | ||
| Kolyom Trust | 17,500 | 2,000 | ||
| Keren Eretz Yisroel | – | 20,500 | ||
| Lev Chaim | 850 | 9,000 | ||
| Low Cost Living | 25,000 | 75,000 | ||
| Ner Foundation | 40,000 | 35,000 | ||
| New Girls School | – | 17,150 | ||
| Pesach Project | 40,000 | 250,000 | ||
| Rosecare | 24,500 | 52,350 | ||
| Tree Life Club | 13,100 | 5,000 | ||
| TTT | 44,700 | – | ||
| Three Pillars | 13,750 | 11,500 | ||
| Yemin Charitable Trust Ltd | 40,000 | 35,000 | ||
| Yesamach Levav | 50,000 | 100,000 | ||
| Further grants < £10k | 59,010 | 51,800 | ||
| -------------------------------- | -------------------------------- | |||
| 529,160 | 889,350 | |||
| -------------------------------- | -------------------------------- | |||
| Total grants | 529,160 ================================ |
889,350 ================================ |
The above grants were made to institutions and went towards the following purposes; the relief of poverty, relief of those in need by reason of ill health or disability, the advancement of Jewish religion and the advancement of Jewish religious education.
- 18 -
Beauland Limited
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 5 April 2024
12. Auditors remuneration
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Fees payable for the audit of the financial statements | 6,000 | 7,200 |
| ======================= | ======================= | |
| Fees payable to the charity's auditor and its associates for other services: | ||
| Other non-audit services | 5,100 | 6,000 |
| ======================= | ======================= |
13. Staff costs
Nil Nil
The average head count of employees during the year was Nil (2023: Nil).
No employee received employee benefits of more than £60,000 during the year (2023: Nil).
14. Trustee remuneration and expenses
No remuneration or other benefits from employment with the charity or a related entity were received by the trustees.
15. Investments
| Shares in | ||||
|---|---|---|---|---|
| Investment | group | Other | ||
| properties | undertakings | investments | Total | |
| £ | £ | £ | £ | |
| Cost or valuation | ||||
| At 6 April 2023 | 4,410,000 | 10 | 11,811,902 | 16,221,912 |
| Additions | – | – | 716,793 | 716,793 |
| Disposals | – | – | (339,484) | (339,484) |
| ----------------------------------------- | -------------- | ---------------------------------------------- | ---------------------------------------------- | |
| At 5 April 2024 | 4,410,000 | 10 | 12,189,211 | 16,599,221 |
| ========================================= | ============== | ============================================== | ============================================== | |
| Impairment | ||||
| At 6 April 2023 and 5 April 2024 | – | – | – | |
| ============== | ============================================== | ============================================== | ||
| Carrying amount | ||||
| At 5 April 2024 | 4,410,000 | 10 | 12,189,211 | 16,599,221 |
| ========================================= | ============== | ============================================== | ============================================== | |
| At 5 April 2023 | 4,410,000 ========================================= |
10 ============== |
11,811,902 ============================================== |
16,221,912 ============================================== |
All investments shown above are held at valuation.
Investment properties
These are wholly owned properties. The investment properties are stated at market value. To arrive at market value we have used management expertise together with advice from APC Consult Ltd a firm of professional surveyors.
- 19 -
Beauland Limited
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 5 April 2024
15. Investments (continued)
The investment properties are stated at market value as per the trustees valuation at the year end.
Investments in joint property syndicates
Other Investments are joint property syndicates. This is comprised of capital introduced by the charity into the syndicates plus accrued surpluses less deficiencies. When necessary, the trustees will revalue to bring in line with market value.
Included in other investments is £5 representing a shareholding in Erbilon Ltd.
16. Investment entities
Subsidiaries and other investments
| Percentage | |||||
|---|---|---|---|---|---|
| Class of | of shares | ||||
| Registered office | share | held | |||
| Subsidiary undertakings | |||||
| Alcombe Limited | 309 Bury New Road | Ordinary | 100 | ||
| Salford | |||||
| Manchester | |||||
| M7 2YN | |||||
| Citeglen Properties Limited | 309 Bury New Road | Ordinary | 100 | ||
| Salford | |||||
| Manchester | |||||
| M7 2YN | |||||
| Edlo Investments Limited | 309 Bury New Road | Ordinary | 100 | ||
| Salford | |||||
| Manchester | |||||
| M7 2YN | |||||
| The results for subsidiaries and other undertakings are as follows: | |||||
| Capital and reserves | Profit/(loss) | for the year | |||
| 2024 | 2023 | 2024 | 2023 | ||
| £ | £ | £ | £ | ||
| Subsidiary undertakings | |||||
| Alcombe Limited | 1,238,511 | 1,221,284 | 17,267 | 1,973 | |
| Citeglen Properties Limited | 968,377 | 1,033,390 | (65,013) | 12,034 | |
| Edlo Investments Limited | 1,455,619 | 1,416,178 | 39,440 | 30,563 | |
| ========================================= | ========================================= | ============================ | ============================ | ||
| Debtors | |||||
| 2024 | 2023 | ||||
| £ | £ | ||||
| Amounts owed by undertakings in which the charity has a | |||||
| participating interest | 225,024 | 225,024 | |||
| Other debtors | 124,208 | 204,217 | |||
| -------------------------------- | -------------------------------- | ||||
| 349,232 | 429,241 | ||||
| ================================ | ================================ |
The results for subsidiaries and other undertakings are as follows:
17. Debtors
- 20 -
Beauland Limited
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 5 April 2024
18. Creditors: amounts falling due within one year
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Bank loans and overdrafts - secured | 75,000 | 83,630 |
| Amounts owed to group undertakings | 85,723 | 85,724 |
| Accruals and deferred income | 75,778 | 66,009 |
| Other creditors | 14,234 | 14,234 |
| -------------------------------- | -------------------------------- | |
| 250,735 | 249,597 | |
| ================================ | ================================ | |
| Creditors: amounts falling due after more than one year | ||
| 2024 | 2023 | |
| £ | £ | |
| Bank loans and overdrafts - secured | 1,123,750 | 1,198,750 |
| ========================================= | ========================================= |
19. Creditors: amounts falling due after more than one year
20. Analysis of charitable funds
Unrestricted funds
| Unrestricted funds | ||||
|---|---|---|---|---|
| At | At | |||
| 6 April 2023 | Income | Expenditure | 5 April 2024 | |
| £ | £ | £ | £ | |
| General funds | 9,350,897 | 974,998 | (711,178) | 9,614,717 |
| Revaluation reserve | 5,991,949 | – | – | 5,991,949 |
| ---------------------------------------------- | -------------------------------- | -------------------------------- | ---------------------------------------------- | |
| 15,342,846 | 974,998 | (711,178) | 15,606,666 | |
| ============================================== | ================================ | ================================ | ============================================== | |
| At | At | |||
| 6 April 2022 | Income | Expenditure | 5 April 2023 | |
| £ | £ | £ | £ | |
| General funds | 9,026,644 | 1,361,446 | (1,037,193) | 9,350,897 |
| Revaluation reserve | 5,991,949 | – | – | 5,991,949 |
| ---------------------------------------------- | ----------------------------------------- | ----------------------------------------- | ---------------------------------------------- | |
| 15,018,593 | 1,361,446 | (1,037,193) | 15,342,846 | |
| ============================================== | ========================================= | ========================================= | ============================================== |
- 21 -
Beauland Limited
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 5 April 2024
21. Analysis of net assets between funds
| Unrestricted | Total Funds | |
|---|---|---|
| Funds | 2024 | |
| £ | £ | |
| Investments | 16,599,221 | 16,599,221 |
| Current assets | 381,930 | 381,930 |
| Creditors less than 1 year | (250,735) | (250,735) |
| Creditors greater than 1 year | (1,123,750) | (1,123,750) |
| ---------------------------------------------- | ---------------------------------------------- | |
| Net assets | 15,606,666 | 15,606,666 |
| ============================================== | ============================================== | |
| Unrestricted | Total Funds | |
| Funds | 2023 | |
| £ | £ | |
| Investments | 16,221,912 | 16,221,912 |
| Current assets | 569,281 | 569,281 |
| Creditors less than 1 year | (249,597) | (249,597) |
| Creditors greater than 1 year | (1,198,749) | (1,198,749) |
| ---------------------------------------------- | ---------------------------------------------- | |
| Net assets | 15,342,847 | 15,342,847 |
| ============================================== | ============================================== |
22. Analysis of changes in net debt
| At | |||
|---|---|---|---|
| At 6 Apr 2023 | Cash flows | 5 Apr 2024 | |
| £ | £ | £ | |
| Cash at bank and in hand | 140,040 | (107,342) | 32,698 |
| Debt due within one year | (169,354) | 8,631 | (160,723) |
| Debt due after one year | (1,198,750) | 75,000 | (1,123,750) |
| ----------------------------------------- | -------------------------------- | ----------------------------------------- | |
| (1,228,064) ========================================= |
(23,711) ================================ |
(1,251,775) ========================================= |
- 22 -
Beauland Limited
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 5 April 2024
23. Related parties
Soimech Noiflim Ltd is a related party because it is controlled by Ian Mett and Norman Bleier who are respectively the son-in-law and husband of Beauland Ltd Trustee Janet Bleier. During the year, donations of £115,000 were received by the charity from Soimech Noiflim Ltd.
Yemin Charitable Trust is a related party because Beauland trustees Henry Neumann and Arnold Henry have control over it. During the year, the charity made grants totalling £40,000 to Yemin CT.
Gefen Foundation is a related party because Beauland trustee Henry Neumann has significant influence over it. During the year, the charity made grants totalling £40,000 to Gefen Foundation. Lev Chaim is a related party because Beauland trustee Henry Neumann has significant influence over it. During the year, the charity made grants totalling £850 to Lev Chaim.
Ner Foundation is a related party because Beauland trustees Esther Henry, and Henry Neumann together with Esther Henry's husband Arnold Henry have control over it. During the year, the charity made grants totalling £40,000 to Ner Foundation.
Birch Park Investments Ltd is a related party because Beauland trustees Pinchas Neumann and Eli Neumann as well as Arnold Henry husband of Beauland trustee Esther Henry have control over it. During the year Birch Park Investments Ltd repaid a loan of £10,000 which had been outstanding at the beginning of the year.
Alcombe Ltd is a related party to the charity by virtue of it being a subsidiary. During the year Alcombe Ltd made donations to the charity totalling £22,613.56. At the year end Alcombe owed the charity £225,023.97. The loan is repayable on demand and there was an interest charge of £22,591.55 during the year.
Citeglen Ltd is a related party to the charity by virtue of it being a subsidiary. During the year Citeglen Ltd made donations to the charity totalling £100,000. At the year end the charity owed Citeglen Ltd £28,235.89. The loan was interest free and repayable on demand.
Edlo Ltd is a related party to the charity by virtue of it being a subsidiary. At the year end the charity owed Edlo Ltd £57,486.54. The loan was interest free and repayable on demand.
24. Taxation
Beauland Ltd is a registered charity and therefore is not liable to income tax or corporation tax on income derived from its charitable activities, as it falls within the various exemptions available to registered charities.
- 23 -